Astral Foods releases 24th integrated report

SOUTH AFRICA – Astral Foods has published its 24th Integrated Report, summarizing the company’s financial and operational performance for the fiscal year ending September 30, 2024. 

The report provides insights into the group’s economic, environmental, and social initiatives, alongside challenges and opportunities encountered in its business activities.

The report highlights that Astral currently manages approximately 34 million broilers and processes about 5.4 million broilers weekly, amounting to 490,757 tons of poultry products for 2024. 

With operations spanning four integrated broiler production facilities, Astral’s combined weekly processing capacity reaches 6.23 million broilers.

County Fair (Western Cape), Festive (Olifantsfontein), and Mountain Valley (Camperdown) produce and distribute a range of fresh and frozen poultry products, while Goldi (Standerton) focuses on individually quick-frozen (IQF) items. 

Additionally, the company produces value-added products, including ready-to-eat crumbed chicken varieties.

Astral’s laboratory division, Central Analytical Laboratories (CAL), provides services such as animal feed analysis, water testing, and tissue residue examination. 

The Ross Poultry Breeders division, operating in KwaZulu-Natal and Gauteng, remains the exclusive distributor of Ross 308 breeding stock in South Africa through a partnership with Aviagen.

In social initiatives, Astral’s “Astral Cares” program contributed US$279,000 to community and employee welfare projects, a 10.4% increase from US$253,000 in 2023. 

The program focuses on food distribution to underserved communities and charities.

Financially, Astral reported a 281% growth in operating profit, reaching US$59 million, attributed to increased poultry sales and higher prices. 

Feeding costs declined as production efficiency improved after resolving electricity disruptions experienced in 2023. 

Capital expenditures for the year amounted to US$15 million, down from US$21 million in 2023, with investments directed toward critical power and water supply infrastructure.

The company employed 12,293 individuals as of September 2024, maintaining a market capitalization of US$425 million, an increase from US$310 million in the previous year.

In leadership news, COO Gary Arnold will assume the role of CEO on February 1, 2025, succeeding Chris Schutte, who is set to retire after the annual general meeting on January 30. 

Arnold has been with Astral since 2012 and brings 28 years of experience to his new role.

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